TMX Select, TMX Group Inc.'s equities alternative trading system, today announced that it has reached another important milestone.
It is now available for client and industry testing in the TMX Gateway Testing Environment (GTE).
The pre-launch testing period in the GTE enables clients to conduct certification testing, to verify that their connectivity is working properly, and to explore TMX Select's functionality.
"TMX Group created TMX Select to better meet the needs of our clients who have increasingly diverse trading strategies," said Gary Knight, Vice President, Trading, TSX Markets and CEO of TMX Select. "We are very excited about the progress of our implementation plans and look forward to bringing to market additional execution opportunities and choice for participants."
A complete subscriber's package, including a TMX Select Subscriber Manual and the necessary agreements to begin trading, will be available by the end of April 2011. Order entry and market data specification documents are currently available to clients through the TMX Select website at www.tmxselect.com.
The Ontario Securities Commission's public feedback request for TMX Select's initial operations notice recently concluded. The fee schedule and more implementation details will be communicated to market participants prior to the planned launch in June 2011, which is subject to regulatory approval.
TMX Select, which was announced in October 2010, will offer a visible marketplace for trading equity securities.